41-2021 — NOTICE AS TO CONVERSION RIGHT
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TITLE 41
INSURANCE
CHAPTER 20
GROUP LIFE INSURANCE
41-2021. NOTICE AS TO CONVERSION RIGHT. If any individual insured under a
group life insurance policy hereafter delivered in this state becomes entitled
under the terms of such policy to have an individual policy of life insurance
issued to him without evidence of insurability, subject to making of
application and payment of the first premium within the period specified in
such policy, and if such individual is not given notice of the existence of
such right at least fifteen (15) days prior to the expiration date of such
period, then, in such event the individual shall have an additional period
within which to exercise such right, but nothing herein contained shall be
construed to continue any insurance beyond the period provided in such policy.
This additional period shall expire fifteen (15) days next after the
individual is given such notice but in no event shall such additional period
extend beyond sixty (60) days next after the expiration date of the period
provided in such policy. Written notice presented to the individual or mailed
by the policyholder to the last known address of the individual or mailed by
the insurer to the last known address of the individual as furnished by the
policyholder shall constitute notice for the purpose of this section.